Business, Management and Accounting
6 years ago

New Inflation Measures Could Impact Cost of Living Adjustments

Food Review/ National Food Review
Alternative Measures of Inflation
James A. Zellner, Anthony E. Gallo, Barabra Levey

Paper Summary

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The article discusses how inflation is measured using the Consumer Price Index (CPI) and the personal consumption expenditure (PCE) deflator. These measures help track changes in prices over time, which can affect the cost of living. While these indexes are widely used, they may not perfectly reflect actual cost-of-living changes. The CPI and PCE deflator show what a set of goods cost at different times, but they have differences in how they are calculated and what items they include.